Refurbished medical equipment is previously used medical equipment that has been restored to its original condition and functionality. These devices can provide a cost-effective and sustainable solution for healthcare institutions in need of new equipment, especially for smaller clinics or hospitals with limited budgets. In addition to being cost-effective, refurbished medical equipment is also a more sustainable option for healthcare institutions. By choosing to refurbish and reuse existing equipment, healthcare providers can significantly reduce the amount of waste generated by disposing of old equipment. Furthermore, the refurbishment process often involves upgrading the equipment with newer technologies and features, which can extend the lifespan of the equipment and make it more efficient and effective. This can help healthcare providers to provide better quality care to their patients while also reducing their overall operating costs.
Refurbished medical imaging equipment includes a wide range of imaging devices used for diagnostic purposes, such as X-ray machines, MRI scanners, CT scanners, ultrasound machines, and others. The refurbishment process for medical imaging equipment typically involves a thorough cleaning and inspection of the equipment, followed by repairs or replacement of any damaged or worn-out parts. The equipment is then tested to ensure that it meets all safety and performance standards before being sold or leased to healthcare providers.
The refurbished medical imaging equipment market has been growing steadily in recent years due to the increasing demand for cost-effective medical equipment. According to the latest research, the global refurbished medical equipment market size was valued at USD 2.4 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.4% from 2023 to 2028.
The market is driven by factors such as the rising demand for affordable medical equipment, increasing awareness about the benefits of refurbished medical equipment, and the growing focus on sustainable healthcare practices. The COVID-19 pandemic has also contributed to the growth of the market, as healthcare providers have been facing budget constraints and supply chain disruptions.
Research Coverage
The refurbished medical imaging equipment market includes a wide range of equipment, including C-arms, computed tomography (CT) scanners, interventional radiology (IXR) systems, magnetic resonance imaging (MRI) systems, ultrasound machines, and others. MRI systems is the largest segment of the market due to the high cost of new equipment and the increasing demand for diagnostic imaging services. Refurbished MRI systems have helped healthcare facilities reduce their expenditure and get access to diagnostic imaging in low-resource settings. For instance, new MRI machine prices can be as high as $1 million or more and high end systems can easily cost close to $3 million. Due to the high costs in some developing and underdeveloped countries, only some large public hospitals have MRI scanning machines. There are millions of MRI procedures performed each year, making it one of the most common imaging technologies used to diagnose injuries, illnesses, and diseases. Rapid advancements in the medical imaging sector are transforming patient care and providing more accurate and faster diagnoses. However, many imaging providers are being reluctant to invest in new equipment due to cash constraints and financial concerns. Hence for many hospitals and imaging centers, refurbished medical imaging equipment has become a viable solution.
Geographically, North America is the largest market for refurbished medical equipment, followed by Europe and Asia Pacific.
Competitive Landscape
The market is highly competitive, with several established players and new entrants offering refurbished medical equipment and related services. Key companies operated in this market include Amber Diagnostics, Inc., Atlantis Worldwide, LLC, Avante Health Solutions (DRE, Inc.), Block Imaging, Inc., Canon Inc., GE HealthCare Technologies Inc., Koninklijke Philips N.V., MXR Imaging Inc. (Oxford Instruments Healthcare), Radiology Oncology Systems, Inc., Siemens Healthineers AG, Soma Technology, Inc.
Table of Contents
Table of Contents
Figures and Tables
1. Introduction
1.1 Definition
1.2 Market Segment
2. Research Methodology
2.1 Primary Research
2.2 Secondary Research
2.3 Information Sources
3. Market Overview
4. Global Refurbished Medical Imaging Equipment Market – Product Analysis
4.1 C-arms
4.2 Computed tomography (CT) scanners
4.3 General X-ray machines
4.4 Interventional radiology (IXR) systems
4.5 Magnetic resonance imaging (MRI) scanners
4.6 Ultrasound machines
5. Global Refurbished Medical Imaging Equipment Market – Nature Of Participants Analysis
5.1 Independent service vendors (ISVs)
5.2 Original equipment manufacturers (OEMs)
6. Global Refurbished Medical Imaging Equipment Market – Region Analysis
6.1 North America
6.2 Asia Pacific
6.3 Europe
6.4 Rest of the World (ROW)
7. Company Profiles
7.1 Amber Diagnostics, Inc.
7.2 Atlantis Worldwide, LLC
7.3 Avante Health Solutions (DRE, Inc.)
7.4 Block Imaging, Inc.
7.5 Canon Inc.
7.6 GE HealthCare Technologies Inc.
7.7 Koninklijke Philips N.V.
7.8 MXR Imaging Inc. (Oxford Instruments Healthcare)
7.9 Radiology Oncology Systems, Inc.
7.10 Siemens Healthineers AG
7.11 Soma Technology, Inc.
DISCLAIMER
Companies Mentioned
Amber Diagnostics, Inc.
Atlantis Worldwide, LLC
Avante Health Solutions (DRE, Inc.)
Block Imaging, Inc.
Canon Inc.
GE HealthCare Technologies Inc.
Koninklijke Philips N.V.
MXR Imaging Inc. (Oxford Instruments Healthcare)
Radiology Oncology Systems, Inc.
Siemens Healthineers AG
Soma Technology, Inc.